Enbridge Inc (ENB) Q2 FY2026 Financial Statements: Net income $1.01B, Adjusted EBITDA $3.45B
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PeriodQ2 FY2026
Published
Enbridge reported net income attributable to common shareholders of $1.01 billion for Q2 FY2026, the quarter ended June 30, 2026, down 35.8% from a year earlier, or $0.46 per diluted share against $0.72. Most of the decline was non-cash, because unrealized gains on derivative contracts were much smaller than in the year-earlier quarter, while adjusted EBITDA, the company's non-GAAP operating measure, was $3.45 billion, up 2.9%. Total operating revenues were $21.19 billion, up 97.2%, with the increase coming from commodity marketing sales, which carry a thin margin.
| Metric | Amount | vs. year ago |
|---|---|---|
| Net income | $1,008,992,027 | down 35.8% |
| Adjusted EBITDA | $3,451,966,992 | up 2.9% |
| Diluted EPS | $0.46 | down 36.0% |
| Revenue | $21,190,278,116 | up 97.2% |
Figures link to the filing they came from. Wherever the SEC filing tags a number, that number is linked: click it and the filing opens at the exact line that prints it. Figures calculated here, such as margins, free cash flow and trailing-twelve-month totals, have no line in a filing to point to and are not linked.
About this file
| Ticker | ENB |
|---|---|
| CIK | 0000895728 |
| Company | Enbridge Inc |
| Business type | midstream energy infrastructure (pipelines and regulated gas utilities) |
| Schema template | midstream/utility: operating revenues by type, operating expenses, operating income, earnings and their attribution, EPS; segment EBITDA; cash, debt, assets, equity; operating cash flow, capital expenditures, free cash flow, dividends; company-defined non-GAAP adjusted EBITDA, adjusted earnings and distributable cash flow |
| Reporting currency | CAD |
| Converted to USD | yes |
| Units | actual US dollars (not millions), converted from Canadian dollars; per-share amounts in US dollars per common share (Enbridge common shares are listed directly on the New York Stock Exchange; there is no ADR); share counts in actual shares |
ENB annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 10-K | 10-K | 10-K |
| Non GAAP | |||
| Source accession | 0001193125-26-049808 | 0001193125-26-049808 | |
| EBITDA | 14,655,058,275 | 12,325,987,137 | |
| Adjusted EBITDA | 14,279,324,251 | 13,592,530,678 | |
| Adjusted earnings | 4,707,768,390 | 4,406,987,524 | |
| Adjusted earnings per common share | 2.1614 | 2.0440 | |
| Distributable cash flow | 8,913,126,715 | 8,753,385,358 | |
| Income statement | |||
| Commodity sales | 25,178,473,661 | 19,723,039,412 | 14,065,803,446 |
| Gas distribution sales | 6,991,515,568 | 4,965,434,676 | 4,032,775,004 |
| Transportation and other services | 14,488,303,937 | 14,346,616,832 | 14,247,359,837 |
| Total operating revenues | 46,658,293,166 | 39,035,090,921 | 32,345,938,287 |
| Commodity costs | 24,589,465,849 | 19,385,781,133 | 13,728,627,293 |
| Gas distribution costs | 2,632,285,214 | 1,813,310,752 | 2,104,572,035 |
| Operating and administrative | 7,134,652,339 | 6,881,674,903 | 6,372,999,823 |
| Depreciation and amortization | 4,051,486,296 | 3,771,890,763 | 3,418,447,463 |
| Impairment of long lived assets | 407,939,797 | 138,699,293 | 310,498,480 |
| Total operating expenses | 38,815,829,495 | 31,991,356,844 | 25,935,145,093 |
| Operating income | 7,842,463,670 | 7,043,734,077 | 6,410,793,194 |
| Income from equity investments | 1,591,680,891 | 1,681,911,422 | 1,345,740,428 |
| Other income expense | 1,169,427,417 | -967,975,063 | 907,040,905 |
| Interest expense | -3,594,879,998 | -3,225,853,548 | -2,824,869,224 |
| Earnings before income taxes | 7,008,691,980 | 5,328,242,826 | 5,838,705,303 |
| Income tax expense | -1,434,230,443 | -1,217,633,790 | -1,349,445,660 |
| Net income including noncontrolling interests | 5,574,461,537 | 4,110,609,036 | 4,489,259,643 |
| Net income attributable to noncontrolling and redeemable noncontrolling interests | -213,273,788 | -138,699,293 | 98,559,183 |
| Net income attributable to controlling interests | 5,361,187,749 | 3,971,909,743 | 4,587,818,826 |
| Preference share dividends | -299,871,535 | -283,238,555 | -260,848,365 |
| Net income attributable to common shareholders | 5,061,316,214 | 3,688,671,188 | 4,326,970,461 |
| Basic EPS | 2.3117 | 1.7082 | 2.1046 |
| Diluted EPS | 2.3045 | 1.7082 | 2.1046 |
| Gain on disposition of equity investments | 0.0 | 796,425,938 | 0.0 |
| Weighted average basic shares | 2,180,000,000 | 2,155,000,000 | 2,056,000,000 |
| Weighted average diluted shares | 2,186,000,000 | 2,158,000,000 | 2,058,000,000 |
| Dividends paid per common share | 2.6981 | 2.6718 | 2.6307 |
| Balance sheet | |||
| Cash and cash equivalents | 797,841,307 | 1,252,083,333 | |
| Restricted cash | 60,530,922 | 63,888,889 | |
| Trade receivables and unbilled revenues | 5,164,089,848 | 4,805,555,556 | |
| Inventory | 1,182,176,196 | 1,033,333,333 | |
| Total current assets | 9,622,957,993 | 9,140,972,222 | |
| Property plant and equipment net | 95,972,870,478 | 91,044,444,444 | |
| Long term investments | 15,507,584,597 | 14,368,750,000 | |
| Intangible assets net | 2,910,589,265 | 3,185,416,667 | |
| Goodwill | 25,732,205,368 | 25,416,666,667 | |
| Total assets | 159,331,242,707 | 152,064,583,333 | |
| Short term borrowings | 751,166,861 | 367,361,111 | |
| Trade payables and accrued liabilities | 5,509,772,462 | 4,902,777,778 | |
| Current portion of long term debt | 3,669,049,008 | 5,367,361,111 | |
| Total current liabilities | 15,317,969,662 | 16,536,111,111 | |
| Long term debt | 72,172,549,592 | 64,870,833,333 | |
| Deferred income tax liabilities | 14,791,423,571 | 13,608,333,333 | |
| Total liabilities | 111,253,646,441 | 104,222,222,222 | |
| Redeemable noncontrolling interest | 536,756,126 | 0.0 | |
| Preference shares | 4,972,287,048 | 4,734,722,222 | |
| Common shares | 52,418,319,720 | 49,818,055,556 | |
| Deficit | -15,522,170,362 | -13,920,833,333 | |
| Accumulated other comprehensive income | 3,413,798,133 | 4,940,972,222 | |
| Total enbridge shareholders equity | 45,458,722,287 | 45,763,888,889 | |
| Noncontrolling interests | 2,082,117,853 | 2,078,472,222 | |
| Total equity | 47,540,840,140 | 47,842,361,111 | |
| Total debt | 76,592,765,461 | 70,605,555,556 | |
| Common shares outstanding | 2,182,000,000 | 2,178,000,000 | |
| Cash flow | |||
| Net cash provided by operating activities | 8,781,440,886 | 9,197,953,090 | 10,523,601,219 |
| Changes in operating assets and liabilities | -1,005,535,815 | -97,089,505 | 1,712,558,441 |
| Distributions from equity investments | 1,478,602,842 | 1,548,322,104 | 1,480,610,889 |
| Capital expenditures | -6,421,831,220 | -4,899,005,015 | -3,448,830,369 |
| Net cash used in investing activities | -7,516,827,517 | -14,864,914,189 | -4,478,143,945 |
| Debenture and term note issues | 7,841,032,302 | 6,968,544,460 | 11,395,071,893 |
| Debenture and term note repayments | -4,901,718,715 | -4,842,065,305 | -3,571,103,040 |
| Common shares issued | 20,039,148 | 1,814,040,748 | 3,297,656,885 |
| Preference share dividends paid | -299,871,535 | -282,508,559 | -260,848,365 |
| Common share dividends paid | -5,882,921,278 | -5,748,720,682 | -5,391,854,269 |
| Net cash from financing activities | -1,717,641,249 | 2,587,106,806 | -2,122,357,150 |
| Net change in cash and restricted cash | -486,665,021 | -2,909,035,164 | 3,763,034,081 |
| Acquisitions | 0.0 | -9,834,509,844 | -706,958,352 |
| Free cash flow | 2,359,609,666 | 4,298,948,075 | 7,074,770,850 |
| Segment EBITDA | |||
| Liquids pipelines | 6,724,565,490 | 6,957,594,516 | 6,953,239,225 |
| Gas transmission | 3,929,820,041 | 4,128,858,943 | 3,159,822,238 |
| Gas distribution and storage | 2,726,039,799 | 2,094,359,319 | 1,179,746,014 |
| Renewable power generation | 443,723,989 | 535,087,271 | 110,415,927 |
| Total reportable segments | 13,824,149,320 | 13,715,900,049 | 11,403,223,404 |
| Eliminations and other | 830,908,954 | -1,389,912,911 | 678,798,586 |
| Segment capital expenditures | |||
| Total incl equity afudc | 6,513,438,754 | 4,988,794,557 | 3,488,846,880 |
| Conversion | |||
| Currency | CAD | CAD | CAD |
| Average | |||
| Cad per USD | 1.397265 | 1.36987 | 1.349443 |
| Closing | |||
| Cad per USD | 1.3712 | 1.4400 | |
| Source | FRED DEXCAUS, rate on 2025-12-31 | FRED DEXCAUS, rate on 2024-12-31 | |
- Accounting basis, FY2025. US GAAP; audited consolidated financial statements in the FY2025 Form 10-K
- Accounting basis, FY2024. US GAAP; audited consolidated financial statements in the FY2025 Form 10-K; prior-year comparative column
- Accounting basis, FY2023. US GAAP; audited consolidated financial statements in the FY2025 Form 10-K; second prior-year comparative column (income statement, cash flow and segment information only; the balance sheet is not presented for this year)
- Non GAAP: source, FY2025, FY2024. Fourth-quarter and full-year 2025 earnings release furnished as Exhibit 99.1 to the Form 8-K filed February 13, 2026 (non-GAAP measures as defined by the company)
- Conversion: average source, FY2025. FRED DEXCAUS, average of 250 daily rates 2025-01-01 to 2025-12-31
- Conversion: average source, FY2024. FRED DEXCAUS, average of 251 daily rates 2024-01-01 to 2024-12-31
- Conversion: average source, FY2023. FRED DEXCAUS, average of 249 daily rates 2023-01-01 to 2023-12-31
ENB quarterly income statement, balance sheet and cash flow
| Q2 2026 | Q2 2025 | |
|---|---|---|
| Fiscal quarter | 2 | 2 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 10-Q | 10-Q |
| Cash flow | ||
| Source accession | 0001193125-26-326744 | 0001193125-26-326744 |
| Net cash provided by operating activities | 2,971,322,510 | 2,338,943,040 |
| Non GAAP | ||
| Source accession | 0001193125-26-326744 | 0001193125-26-326744 |
| EBITDA | 3,495,333,412 | 4,015,498,568 |
| Adjusted EBITDA | 3,451,966,992 | 3,354,555,738 |
| Adjusted earnings | 998,873,196 | 1,024,280,800 |
| Adjusted earnings per common share | 0.4553 | 0.4695 |
| Distributable cash flow | 2,130,736,745 | 2,096,958,507 |
| Income statement | ||
| Commodity sales | 16,323,843,074 | 5,868,305,516 |
| Gas distribution sales | 1,330,626,305 | 1,273,488,752 |
| Transportation and other services | 3,535,808,737 | 3,603,763,690 |
| Total operating revenues | 21,190,278,116 | 10,745,557,959 |
| Commodity costs | 15,958,842,377 | 5,784,513,857 |
| Gas distribution costs | 388,852,228 | 395,843,356 |
| Operating and administrative | 1,706,468,607 | 1,668,609,766 |
| Depreciation and amortization | 1,032,843,558 | 1,004,777,569 |
| Impairment of long lived assets | 0.0 | 238,372,824 |
| Total operating expenses | 19,087,006,770 | 9,092,117,372 |
| Operating income | 2,103,271,346 | 1,653,440,587 |
| Income from equity investments | 384,515,586 | 368,394,364 |
| Other income expense | -25,297,078 | 988,886,048 |
| Interest expense | -1,008,269,253 | -853,085,772 |
| Earnings before income taxes | 1,454,220,601 | 2,157,635,226 |
| Income tax expense | -319,465,957 | -481,079,699 |
| Net income including noncontrolling interests | 1,134,754,644 | 1,676,555,527 |
| Net income attributable to noncontrolling and redeemable noncontrolling interests | -49,871,382 | -30,338,359 |
| Net income attributable to controlling interests | 1,084,883,261 | 1,646,217,168 |
| Preference share dividends | -75,891,234 | -73,678,873 |
| Net income attributable to common shareholders | 1,008,992,027 | 1,572,538,295 |
| Basic EPS | 0.4626 | 0.7223 |
| Diluted EPS | 0.4626 | 0.7223 |
| Weighted average basic shares | 2,184,000,000 | 2,180,000,000 |
| Weighted average diluted shares | 2,190,000,000 | 2,186,000,000 |
| Dividends paid per common share | 0.7011 | 0.6790 |
| Balance sheet | ||
| Cash and cash equivalents | 1,416,402,675 | |
| Restricted cash | 40,830,693 | |
| Trade receivables and unbilled revenues | 6,931,362,196 | |
| Inventory | 1,122,844,069 | |
| Total current assets | 12,474,480,817 | |
| Property plant and equipment net | 96,908,130,940 | |
| Long term investments | 15,720,520,943 | |
| Intangible assets net | 2,795,494,544 | |
| Goodwill | 25,494,544,175 | |
| Total assets | 163,074,269,623 | |
| Short term borrowings | 1,104,540,655 | |
| Trade payables and accrued liabilities | 7,133,403,731 | |
| Current portion of long term debt | 4,724,392,819 | |
| Total current liabilities | 17,301,654,347 | |
| Long term debt | 73,109,468,497 | |
| Deferred income tax liabilities | 15,247,448,082 | |
| Total liabilities | 114,608,940,514 | |
| Redeemable noncontrolling interest | 518,127,420 | |
| Preference shares | 4,799,718,409 | |
| Common shares | 50,650,475,185 | |
| Deficit | -14,314,677,930 | |
| Accumulated other comprehensive income | 4,739,880,324 | |
| Total enbridge shareholders equity | 46,004,223,865 | 48,052,863,436 |
| Noncontrolling interests | 1,942,977,825 | 2,136,563,877 |
| Total equity | 47,947,201,690 | 50,189,427,313 |
| Total debt | 78,938,401,971 | |
| Common shares outstanding | 2,184,000,000 | |
| Segment EBITDA | ||
| Liquids pipelines | 1,895,835,306 | 1,683,778,946 |
| Gas transmission | 1,035,734,652 | 1,041,617,006 |
| Gas distribution and storage | 634,595,272 | 368,394,364 |
| Renewable power generation | 85,287,292 | 78,735,266 |
| Total reportable segments | 3,651,452,522 | 3,172,525,582 |
| Eliminations and other | -156,119,110 | 842,972,986 |
| Segment capital expenditures | ||
| Total incl equity afudc | 2,195,786,374 | 1,401,343,267 |
| Conversion | ||
| Currency | CAD | CAD |
| Average | ||
| Cad per USD | 1.383559 | 1.384386 |
| Closing | ||
| Cad per USD | 1.4205 | 1.3620 |
| Source | FRED DEXCAUS, rate on 2026-06-30 | FRED DEXCAUS, rate on 2025-06-30 |
- Accounting basis, Q2 2026. US GAAP; unaudited interim consolidated financial statements in the Q2 2026 Form 10-Q
- Accounting basis, Q2 2025. US GAAP; unaudited interim consolidated financial statements in the Q2 2026 Form 10-Q; prior-year comparative column
- Cash flow: source. the Form 10-Q prints cash flows for six months only; the three-month operating cash flow is from the Q2 2026 earnings release (Form 8-K, Exhibit 99.1)
- Non GAAP: source. Q2 2026 earnings release furnished as Exhibit 99.1 to the Form 8-K filed July 31, 2026 (non-GAAP measures as defined by the company)
- Conversion: average source, Q2 2026. FRED DEXCAUS, average of 63 daily rates 2026-04-01 to 2026-06-30
- Conversion: average source, Q2 2025. FRED DEXCAUS, average of 63 daily rates 2025-04-01 to 2025-06-30
ENB year-to-date income statement and cash flow
| Six months 2026 (six months ended June 30, 2026) | Six months 2025 (six months ended June 30, 2025) | |
|---|---|---|
| Period start | 2026-01-01 | 2025-01-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | six months | six months |
| Source accession | 10-Q | 10-Q |
| Non GAAP | ||
| Source accession | 0001193125-26-326744 | 0001193125-26-326744 |
| EBITDA | 7,154,528,673 | 8,151,859,607 |
| Adjusted EBITDA | 7,684,439,989 | 7,430,908,236 |
| Adjusted earnings | 2,549,381,564 | 2,597,127,974 |
| Adjusted earnings per common share | 1.1687 | 1.1921 |
| Distributable cash flow | 4,935,434,299 | 4,740,113,351 |
| Income statement | ||
| Commodity sales | 25,970,735,829 | 12,540,722,044 |
| Gas distribution sales | 4,340,917,356 | 3,875,823,222 |
| Transportation and other services | 7,199,534,839 | 7,268,410,338 |
| Total operating revenues | 37,511,188,025 | 23,684,955,604 |
| Commodity costs | 25,583,102,072 | 12,306,554,768 |
| Gas distribution costs | 1,819,120,217 | 1,535,569,654 |
| Operating and administrative | 3,577,990,242 | 3,392,587,116 |
| Depreciation and amortization | 2,077,542,721 | 1,986,164,262 |
| Impairment of long lived assets | 0.0 | 234,167,276 |
| Total operating expenses | 33,057,755,252 | 19,455,043,076 |
| Operating income | 4,453,432,773 | 4,229,912,528 |
| Income from equity investments | 778,897,044 | 879,191,683 |
| Other income expense | -155,343,865 | 1,056,591,135 |
| Interest expense | -1,899,695,773 | -1,784,638,485 |
| Earnings before income taxes | 3,177,290,179 | 4,381,056,861 |
| Income tax expense | -746,957,184 | -967,181,811 |
| Net income including noncontrolling interests | 2,430,332,995 | 3,413,875,050 |
| Net income attributable to noncontrolling and redeemable noncontrolling interests | -50,087,508 | -119,212,432 |
| Net income attributable to controlling interests | 2,380,245,487 | 3,294,662,618 |
| Preference share dividends | -153,892,053 | -145,467,550 |
| Net income attributable to common shareholders | 2,226,353,433 | 3,149,195,068 |
| Basic EPS | 1.0235 | 1.4476 |
| Diluted EPS | 1.0163 | 1.4405 |
| Weighted average basic shares | 2,183,000,000 | 2,180,000,000 |
| Weighted average diluted shares | 2,189,000,000 | 2,186,000,000 |
| Dividends paid per common share | 1.4083 | 1.3340 |
| Cash flow | ||
| Net cash provided by operating activities | 4,684,270,853 | 4,464,079,804 |
| Changes in operating assets and liabilities | -498,697,362 | -596,771,756 |
| Distributions from equity investments | 701,951,017 | 751,464,078 |
| Capital expenditures | -3,930,054,610 | -2,570,872,855 |
| Net cash used in investing activities | -4,279,215,354 | -3,298,210,607 |
| Debenture and term note issues | 3,427,727,718 | 4,633,673,680 |
| Debenture and term note repayments | -577,821,106 | -2,894,449,455 |
| Common shares issued | 0.0 | 4,257,587 |
| Preference share dividends paid | -153,892,053 | -146,177,148 |
| Common share dividends paid | -3,074,937,445 | -2,915,737,389 |
| Net cash from financing activities | 209,060,903 | -1,536,988,850 |
| Net change in cash and restricted cash | 647,508,074 | -410,147,532 |
| Free cash flow | 754,216,243 | 1,893,206,949 |
| Segment EBITDA | ||
| Liquids pipelines | 3,324,649,079 | 3,494,059,602 |
| Gas transmission | 2,179,895,455 | 2,068,477,608 |
| Gas distribution and storage | 1,877,918,595 | 1,497,251,373 |
| Renewable power generation | 222,127,209 | 235,586,472 |
| Total reportable segments | 7,604,590,339 | 7,295,375,054 |
| Eliminations and other | -450,061,666 | 856,484,553 |
| Segment capital expenditures | ||
| Total incl equity afudc | 4,009,178,354 | 2,621,254,299 |
| Conversion | ||
| Currency | CAD | CAD |
| Average | ||
| Cad per USD | 1.377589 | 1.409249 |
- Accounting basis, Six months 2026 (six months ended June 30, 2026). US GAAP; unaudited interim consolidated financial statements in the Q2 2026 Form 10-Q
- Accounting basis, Six months 2025 (six months ended June 30, 2025). US GAAP; unaudited interim consolidated financial statements in the Q2 2026 Form 10-Q; prior-year comparative column
- Non GAAP: source. Q2 2026 earnings release furnished as Exhibit 99.1 to the Form 8-K filed July 31, 2026 (non-GAAP measures as defined by the company)
- Conversion: average source, Six months 2026 (six months ended June 30, 2026). FRED DEXCAUS, average of 124 daily rates 2026-01-01 to 2026-06-30
- Conversion: average source, Six months 2025 (six months ended June 30, 2025). FRED DEXCAUS, average of 124 daily rates 2025-01-01 to 2025-06-30
ENB trailing twelve month income statement and cash flow
| Twelve months ended June 30, 2026 (derived) | |
|---|---|
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 10-Q |
| Source accessions | 10-K, 10-Q, 0001193125-26-049808, 0001193125-26-326744 |
| Income statement | |
| Total operating revenues | 60,432,365,998 |
| Total operating expenses | 52,374,813,707 |
| Operating income | 8,057,552,290 |
| Earnings before income taxes | 5,787,656,137 |
| Net income including noncontrolling interests | 4,578,878,529 |
| Net income attributable to common shareholders | 4,126,491,700 |
| Cash flow | |
| Net cash provided by operating activities | 8,998,516,895 |
| Capital expenditures | -7,791,186,926 |
| Free cash flow | 1,207,329,970 |
| Non GAAP | |
| Adjusted EBITDA | 14,524,150,580 |
| Distributable cash flow | 9,100,575,364 |
| Adjusted earnings | 4,654,155,698 |
| Conversion | |
| Currency | CAD |
| Average | |
| Cad per USD | 1.381561 |
- Derivation. FY2025 (Form 10-K, accession 0001193125-26-049810) plus the six months ended June 30, 2026, less the six months ended June 30, 2025 (Form 10-Q, accession 0001193125-26-326752); the non-GAAP lines use the same arithmetic on the full-year 2025 earnings release (accession 0001193125-26-049808) and the Q2 2026 earnings release (accession 0001193125-26-326744). Computed in Canadian dollars, then converted at the average daily US-dollar rate for July 1, 2025 to June 30, 2026. Per-share amounts are not shown for this period because weighted share counts cannot be combined this way.
- Conversion: average source. FRED DEXCAUS, average of 250 daily rates 2025-07-01 to 2026-06-30
Adjustments
| Splits applied | none |
|---|---|
| ADR ratio | n/a |
| FX | Enbridge reports in Canadian dollars. Every money figure is converted to US dollars: income-statement, cash-flow and per-share figures at the average daily Canadian-dollar rate (US Federal Reserve H.10 series, as published by FRED) for that period's own dates, balance-sheet figures at the closing rate on the balance-sheet date. The rate used is recorded on each period under 'conversion'. Neither the Form 10-K nor the Form 10-Q states a translation rate for these figures. |
Notes
- Periods covered: the FY2025 Form 10-K (accession 0001193125-26-049810) presents fiscal years 2025, 2024 and 2023 for the income statement and cash flows and December 31, 2025 and 2024 for the balance sheet; the Q2 2026 Form 10-Q (accession 0001193125-26-326752) presents the three and six months ended June 30, 2026 and 2025 and the balance sheet at June 30, 2026. Enbridge's fiscal year is the calendar year.
- Template: Enbridge is a pipeline and regulated gas-utility business, so the record follows its own statement of earnings (operating revenues split into commodity sales, gas distribution sales and transportation and other services) rather than a revenue/cost-of-goods/gross-profit layout, and adds the segment EBITDA the company uses to measure its four reportable segments.
- Commodity sales and commodity costs are large, low-margin lines that move with commodity prices and marketing volumes. In Q2 2026 commodity sales were C$22,585 million against C$8,124 million in Q2 2025, which accounts for essentially all of the increase in total operating revenues (C$29,318 million against C$14,876 million); commodity costs rose by a similar amount (C$22,080 million against C$8,008 million).
- Signs follow the statements as printed: operating expense lines are positive amounts within total operating expenses, while interest expense, income tax expense, earnings attributable to noncontrolling interests and preference share dividends are negative because the statement of earnings presents them as deductions. In the cash flow statement, outflows (capital expenditures, repayments, dividends paid) are negative.
- net_income_including_noncontrolling_interests is the line the company calls 'Earnings'. Earnings per share are struck on earnings attributable to common shareholders (after preference share dividends), less a small redemption value adjustment for the redeemable noncontrolling interest, divided by weighted average shares printed in millions.
- total_debt is derived as short-term borrowings plus the current portion of long-term debt plus long-term debt, each read from the balance sheet; the company does not print this total. Common shares outstanding are taken from the share-capital caption on each balance sheet (in millions).
- free_cash_flow is derived as net cash provided by operating activities less the 'Capital expenditures' line of the cash flow statement; Enbridge does not report a free cash flow figure. segment_capital_expenditures is a different measure printed in the segment note: cash capital expenditures plus the equity component of the allowance for funds used during construction, so it is higher than the cash flow statement line.
- The Form 10-Q prints cash flows for the six-month periods only. The three-month operating cash flow for Q2 2026 and Q2 2025 comes from the Q2 2026 earnings release (Form 8-K, accession 0001193125-26-326744), whose six-month figures match the Form 10-Q exactly. No three-month capital expenditure figure on a cash flow basis is published, so the quarters carry no capital expenditures or free cash flow.
- The Form 10-Q does not present a balance sheet at June 30, 2025. The Q2 2025 entry carries only the equity positions printed as closing balances in the statement of changes in equity.
- Non-GAAP measures (EBITDA, adjusted EBITDA, adjusted earnings, adjusted earnings per common share and distributable cash flow) are as defined by Enbridge and are taken from its earnings releases: the Q2 2026 release (accession 0001193125-26-326744) for the 2026 and 2025 quarters and six-month periods, and the fourth-quarter and full-year 2025 release (accession 0001193125-26-049808) for FY2025 and FY2024. FY2023 carries none because neither release presents it. EBITDA in each release equals the total of the GAAP segment EBITDA plus Eliminations and Other in the Form 10-Q and Form 10-K segment notes.
- Currency: all figures are reported in Canadian dollars and converted here to US dollars at the average daily rate for each period (flows and per-share amounts) or the closing rate on the balance-sheet date (positions); the rate used is recorded on each period. For reference, the earnings releases say US-dollar EBITDA was translated at about C$1.38 per US dollar in both Q2 2026 and Q2 2025, C$1.40 in 2025 and C$1.37 in 2024, and that period-end debt at June 30, 2026 translated at 1.42; the rates applied here round to the same values. Per-share dividends are converted at the period's average rate, so they approximate, rather than equal, the US-dollar amounts a holder received on each payment date.
- Trailing twelve months to June 30, 2026 is derived as FY2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025, in Canadian dollars, and then converted at the average rate for July 2025 to June 2026.
- The Form 10-Q states that certain comparative figures have been reclassified to conform to the current year's presentation; the 2025 quarter and six-month figures here are the comparatives as printed in the Q2 2026 Form 10-Q.
- No stock split affects these periods, and Enbridge common shares trade directly on the New York Stock Exchange (there is no ADR), so per-share figures are per common share.
Uncertainties
- US-dollar figures depend on the published reference exchange rates applied here; the company translates its US operations at its own monthly average rates, so these US-dollar amounts will differ slightly from any US-dollar figure Enbridge itself might publish.
- Weighted average share counts are printed in millions with no decimals, so per-share figures recomputed from them agree with the printed earnings per share only to within rounding.
- The trailing-twelve-month figures combine the FY2025 Form 10-K with the 2025 six-month comparatives as printed (and possibly reclassified) in the Q2 2026 Form 10-Q; any reclassification between those two presentations is not separately disclosed.
Company details
| Name | Enbridge Inc |
|---|---|
| Ticker | ENB |
| CIK | 0000895728 |
| Exchange | NYSE |
| State | Alberta, Canada |
| Incorporation | Alberta, Canada |
| SIC | 4610 |
| Office | Energy & Transportation |
| Industry | Pipe Lines (No Natural Gas) |
Fiscal period
| Fiscal year | 2026 |
|---|---|
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0001193125-26-326752 |
| Fiscal year end | 1231 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Source |
|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2025-12-31 | 2026-02-13 | 0001193125-26-049810 | reported |
| quarterly | yes | 10-Q | 2026 | Q2 | FY26Q2 | 2026-06-30 | 2026-07-31 | 0001193125-26-326752 | facts |
FAQ · Enbridge financial statements
How much did Enbridge earn in Q2 FY2026?
Enbridge reported net income attributable to common shareholders of $1.01 billion for Q2 FY2026, the quarter ended June 30, 2026, down 35.8% from $1.57 billion a year earlier. Most of the decline reflected smaller non-cash gains on derivative contracts than in the year-earlier quarter.
What was Enbridge's earnings per share in Q2 FY2026?
Enbridge's diluted earnings per common share were $0.46 in Q2 FY2026, the quarter ended June 30, 2026, down 36.0% from $0.72 in the same quarter a year earlier.
What was Enbridge's adjusted EBITDA in Q2 FY2026?
Enbridge reported adjusted EBITDA of $3.45 billion for Q2 FY2026, the quarter ended June 30, 2026, up 2.9% from $3.35 billion a year earlier. Adjusted EBITDA is a non-GAAP measure.
How much revenue did Enbridge have in Q2 FY2026?
Enbridge reported total operating revenues of $21.19 billion for Q2 FY2026, the quarter ended June 30, 2026, up 97.2% from $10.75 billion a year earlier. The increase came from commodity sales, mainly crude oil, natural gas and power marketing, where the margin is typically a small fraction of gross revenue.
Where can I get Enbridge Inc (ENB) financial data in machine-readable form?
Ticker Scout publishes Enbridge Inc's financial statements as JSON at https://tickerscout.ai/enb/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/enb/narrative.md and https://tickerscout.ai/enb/events.md. Enbridge Inc's SEC CIK is 0000895728. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does Enbridge Inc (ENB) next file with the SEC?
Enbridge Inc (ENB) is expected to file its next Form 10-Q with the SEC on or around November 6, 2026. That date is a projection rather than a company-announced date: it is derived from Enbridge Inc's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0001193125-26-326752.
How this page was built
This page was built from four of Enbridge Inc's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names three such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
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Built from Enbridge Inc's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.